New research from Siemens’ Financial Services (SFS) unit has shown the growing importance of asset finance in enabling machine tool investments. The study was conducted among the global top 80 machine tool OEMs, representing 55 percent of machine tool sales worldwide, according to the SFS.
Eighty-four percent of the survey respondents reported that customers are experiencing difficulty in accessing traditional bank loans to fund equipment acquisition. Simultaneously, 64 percent confirmed that asset finance has been highly important in enabling their customers to acquire equipment over the past two years, with 55 percent indicating that leasing has been the principle funding source for machine tool users. Demand for financing is expect to grow through 2020, becoming highly important over the next five years.
The study concluded that machine tool OEMs are increasingly interested in integrated finance in their sales propositions, and leasing and renting arrangements are progressively becoming the financing method of choice. According to the SFS, these arrangements have the potential to provide benefits ranging from improved productivity to access to new markets. The findings also indicate a rising demand for finance from the customers of machine tool OEMs, a demand predicted to rise to the end of the decade.
Siemens Financial Services, visit finance.siemens.com.